TKR stronger than ever
17/3/2005 17:26 (Press Release) -
Team Kiwi Racing has today announced yet another major development in their bid to be a front running team in the Australian V8 Supercar Championship with the financial involvement of well known New Zealand motorsport identity and Owner of one of New Zealand's largest home building companies Jennian Homes, Mr Bernard Gillon.
Mr Gillon has been a long time supporter of New Zealand motorsport both on and off the race track and jumped at the opportunity to be involved as a 20% shareholder in Team Kiwi Racing. Mr David John, who founded Team Kiwi Racing in 2000, will retain the other 80% ownership of the TKR business.
"I have been impressed and admire what David John and his team have been able to achieve on such a limited budget over the last four seasons and the opportunities they have provided a number of Kiwi drivers and crew members both in Australia and here in New Zealand during that time"
"As a Kiwi business man and a race car driver myself, I can see the potential this team has with the right financial backing and know first hand how difficult it is to compete in a sport that is more dominated by how much financial backing you have rather than luck" says Gillon.
Mr Gillon started with Jennian Homes in 1987 as General Manager, in 1991 he became the first Jennian Homes franchisee in Tauranga and in 1998 he purchased the Jennian Homes company.
Under Mr Gillons leadership Jennian Homes has grown from 7 franchises in 1998 when he purchased the company to 25 Franchisees in 2005 with annual turn over in excess of $200,000,000.
"It is exciting times at TKR and a pleasure to have Mr Gillon involved with Team Kiwi Racing as we start stage two of our development this year"
"His ability to understand both the business side of motor racing as well as the focus of the individuals within the race team from first hand experience will be a major asset to the team as we continue to punch above our weight in the Australian V8 Supercar Championship and provide ongoing opportunities in the years ahead for up and coming drivers to experience the international competition of V8 Supercars".
Says Mr John.
The funds Mr John will receive from the sale of the 20% shareholding sold to Mr Gillon will be reinvested back into TKR by Mr John to ensure TKR are able to match it with the very best Australian teams in the Championship.
"If you look at what Mr John has agreed to do by reinvesting the funds from the 20% shareholding back into Team Kiwi Racing it tells you all you need to know about this team and how determined they are to succeed"
"Rather than pocketing the funds himself Mr John is more interested in reinvesting the funds back into the team for the long term benefit of up and coming drivers, mechanics and crew members to experience the international level of motorsport under the Team Kiwi Racing banner". Says Mr Gillon.
Both the short and long term potential of Team Kiwi Racing is looking very positive with this latest announcement, following on from recent confirmations that Kiwi driver Paul Radisich will be driving the TKR All Black Machine for the 2005 and 2006 seasons and kiwi Alan Draper who is regarded as a V8 Supercar engine guru is the teams new engine builder. Also a brand new car and new engines will be provided to Mr Radisich for the start of the 2005 season along with a new multi million dollar technical development partnership having been entered into between TKR and PMM.
Team Kiwi Racing will now use the Melbourne Formula 1 Grand Prix on the 3rd to the 6th March 2005 as a test weekend for the teams new car which will be the very first time Paul Radisich has had the opportunity to drive a Holden in preparation for the first round of the 2005 V8 Supercar Championship in Adelaide at the Clipsal 500 on the 17th to 20th March 2005. He then heads home to New Zealand for the second round of the Australian V8 Supercar Championship at Pukekohe Park Raceway on the 14th to 17th April 2005.
Release Date: 01/03/2005
Team Kiwi Racing
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